How much interest is charged on Pledge Shares using m.Stock?

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mStock Interest Charges on Pledge Shares

m.Stock charges 9.99% p.a. interest on Pledge Shares, which is one of the lowest in the market. So, if you take funding worth Rs 100, you will pay Rs 9.99 interest in a year, which is Rs 0.027 in a day. To elaborate, here are 3 scenarios

Value of existing stock portfolio	Haircut	Funding received after haircut	Interest payable (@ 9.99% p.a.)
Rs 10,000	10%	Rs 9,000	Rs 1899
Rs 1,00,000	15%	Rs 85,000	Rs 8,492
Rs 10,00,000	20%	Rs 8,00,000	Rs 79,920

Note:

Haircut: This is the percentage of your shares’ value that your broker keeps as a safety buffer. For example, if your shares are worth ₹10,000 and the haircut is 10%, you’ll only get ₹9,000 for trading, with ₹1,000 kept as the buffer.
The interest you pay depends on how much you borrow after the haircut, and it’s calculated at 9.99% per year.

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How much interest is charged on Pledge Shares using m.Stock?

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